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Waystream breakthrough with first order in India worth 3 MSEK

Waystream, who develops and sells advanced digital infrastructure equipment, such as switches and routers for fiber based broadband networks, has won their first order on the India market together with their new partner Genexis India. The customer, PMPL, is a subsidiary of Digicablecomm and is active in Calcutta.

PMPL has chosen Waystream’s flagship platform MPC480 for upgrading their network. The upgrade facilitates a new network design that will create a reliable, scalable and futureproof network. The new network design and upgrade will make it possible to manage future subscriber surges as well as increasing network security.

– We are very happy to have won this breakthrough order in India. India is a huge market and we see a big potential there. With PMPL and Genexis India as a partner, we now have a reference customer which is important. We have a successful evaluation to back up up and together we will create a high quality network that will be able to deliver fast and reliable Internet connections to both existing and new customers, says Johnny Hedlund, Waystream CEO.

India has strong focus on technology and the new government has set the goal to digitalise the country in order to promote the strong growth in the economy. Investments in infrasructure are of great importance because today’s networks do not meet the market demands which has created opportunities for a company like Genexis India who is committed to building first class network solutions for their customers.

- With Waystream’s technically advanced products, we have succeeded in creating a first class total solution that makes us unique on the market. Their products are the perfect complement to our exisitng portfolio that is targeted at service providers. Waystream also has an exceptional track record in the very competitive and demanding market in Scandinavia as well as a strong focus on FTTX. This combination makes them an excellent choice and we are very happy to be able to offer Waystream solutions to our partners and customers in India, says Paritosh Prajapati, CEO Genexis India Pvt.

Genexis India Pvt has for a long period successfully tested and evaluated Waystream’s MPC480. Waystream and Genexis now move together to the next phase where they will implement the large scale solution. The total order value is 3 MSEK. The first delivery, in total 800 kSEK, is shipping now and the remainder will be shipped in 2017.

Waystream sells and designs advanced digital infrastructure including switches and routers. With our products and expertise, we help telecom operators and service providers to offer reliable and user-centric network services with a high level of functionality. Our products are smart, easy to use and manage, and designed to create the best possible experience for the end user.

The company is traded on the NASDAQ First North. Waystream’s Certified Adviser is FNCA Sweden AB.

This information is such that the Company is obligated to provide according to EU market abuse regulations. The information is delivered, by the supervision of above contact persons, to be published on January 31, 2017 at 17:20 CET.